Solar Capital (SLRC) Upgraded by JMP Securities to “Outperform”

JMP Securities upgraded shares of Solar Capital (NASDAQ:SLRC) from a market perform rating to an outperform rating in a research report released on Tuesday morning, MarketBeat.com reports.

Other equities research analysts have also issued reports about the company. National Securities reaffirmed a buy rating and set a $25.00 target price on shares of Solar Capital in a research report on Wednesday, November 29th. Ladenburg Thalmann Financial Services raised Solar Capital from a neutral rating to a buy rating in a research report on Monday, November 6th. Zacks Investment Research raised Solar Capital from a sell rating to a hold rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods raised Solar Capital from a market perform rating to an outperform rating and set a $23.00 target price on the stock in a research report on Friday, January 12th. Finally, BidaskClub lowered Solar Capital from a sell rating to a strong sell rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $23.67.

Shares of Solar Capital (NASDAQ:SLRC) traded up $0.03 during trading on Tuesday, hitting $21.13. The stock had a trading volume of 66,980 shares, compared to its average volume of 152,681. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $891.70, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. Solar Capital has a twelve month low of $19.90 and a twelve month high of $22.94.

Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The firm had revenue of $36.15 million during the quarter, compared to analyst estimates of $35.95 million. Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. equities research analysts expect that Solar Capital will post 1.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Solar Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.76%. Solar Capital’s payout ratio is 95.24%.

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Solar Capital by 0.3% during the second quarter. Royal Bank of Canada now owns 38,320 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 116 shares during the period. Green Square Capital LLC raised its position in shares of Solar Capital by 1.3% during the second quarter. Green Square Capital LLC now owns 16,796 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 212 shares during the period. Northern Trust Corp raised its position in Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,088 shares during the period. OxFORD Asset Management LLP raised its position in Solar Capital by 3.4% during the third quarter. OxFORD Asset Management LLP now owns 71,054 shares of the financial services provider’s stock valued at $1,522,000 after buying an additional 2,352 shares during the period. Finally, Global X MANAGEMENT CO LLC raised its position in Solar Capital by 49.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock valued at $195,000 after buying an additional 2,981 shares during the period. 63.08% of the stock is currently owned by institutional investors.

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About Solar Capital

Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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